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What is mortgage life insurance?

Mortgage life insurance is a form of insurance specifically designed to protect a mortgage, decreasing in line with your mortgage throughout the policy term. If you were to die while the mortgage life insurance was in force, the policy would pay out a lump sum that will be sufficient to repay the outstanding mortgage.

FREQUENTLY ASKED QUESTIONS

Why do I need mortgage life insurance?

If you share your home with other family members, such as a partner or children, mortgage life insurance would pay out a lump sum on your passing in order to pay off your mortgage and protect your loved ones future.

 

How does mortgage life insurance work?

The policy is either taken out on a ‘decreasing’ or ‘level’ basis.  A decreasing policy can be taken out to cover a repayment mortgage and this type of policy decreases in line with your mortgage balance. A level policy would be taken out to cover an interest only mortgage (meaning you only pay the interest and the balance doesn’t decrease).

Get in touch today and we will search the UK’s leading insurers to protect your loved ones and find the right policy for you at the right price.

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That’s Life is a registered Trading Name of Candid Insurance Services Ltd. Candid Insurance Services Ltd is registered in England and Wales, company number 07279489. Registered Office: 920 Hempton Court, Aztec West, West Almondsbury, Bristol, BS32 4SR, United Kingdom. Candid Insurance Services Ltd is Authorised and Regulated by the Financial Conduct Authority and is entered on the Financial Services Register under number 603273. Licensed by the Information Commissioners Office Registration Number Z3488836. VAT: 160484711.